Bahrain’s Tatweer Petroleum and Italian oil and gas giant Eni have signed an agreement to assess and launch new initiatives n sectors including renewable energy, liquefied natural gas (LNG) supply, and exploration.
The agreement was signed by HE Shaikh Mohamed bin Khalifa Al Khalifa, Bahrain’s Minister of Oil and chairman of Tatweer Petroleum, and chief executive officer of Eni, Claudio Descalzi.
According to the Bahrain News Agency, the deal was signed on the sidelines of an official visit by the kingdom’s high-level delegation to Italy led by HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, and First Deputy Prime Minister.
The minister of oil stressed that the visit also comes in line with the kingdom’s plans to further expand investment opportunities in the energy sector.
Meanwhile, HE Shaikh Mohamed pointed out that the collaboration between the National Oil and Gas Authority and Eni will help develop the kingdom’s petroleum industry.
Descalzi said that the agreement supports Eni’s plans to expand in Bahrain, “while pursuing Eni’s overall decarbonisation strategy, and forms part of the company’s transition towards green energy and the circular economy that has been underway since 2014”.
“Eni aims to support the increase of low carbon energy sources in countries where it operates. In order to ensure long-term sustainability, Eni promotes the development of renewable energy and conducts scientific and technological research,” Descalzi added.